Out of state investor seeking agent for buy and hold properties

Hoping to get some referrals of solid investor-minded agents in a few markets to speak to about purchasing buy and hold cash flow properties. If you are an agent or invest out of state and have used a great agent that you can refer, I'd really appreciate the contact.

I live in California and am interested in "B" type SFR properties. I'm trying to narrow down markets and settle on one and then purchase right away. Markets I'm interested in: Indy, Atlanta, Birmingham, KC Kansas City or any other markets you may know of as a good investment location. Would love to speak with an agent on the ground there first before deciding on a market.

The market down here in Miami is powerful right now. The general appreciation is greatly telling and in certain strategic neighborhoods such as West Little River and Little Havana it's investment performance at it's finest.

Atlanta is the market in my opinion if you want cash flow. It has all of the economic drivers you could want and fantastic rent/value ratios. PM me with your specific criteria and I will be happy to get you as many properties as you can handle. @Brett Blough

Hey Brett! We are neighbors...I'm just over in Venice. Where in SM are you?

I've always bought B (or higher) out-of-state properties. Mine are in Atlanta, but I don't actually recommend that market now. It will still give cash flow, but I don't think it's the best market anymore, by a long shot. There are way higher returns elsewhere and more room for growth (and less saturation). KC is good, Indy is good, have you thought about Birmingham?

My recommendation would be to scout markets and such and then think about the agents. The thing with agents is most real estate agents aren't very investor-savvy so you really want to be sure you are working with the best. When you are buying out-of-state, the team you work with is crucial!

Account Closed

replied over 2 years ago

@Brett Blough I love Kansas City for rentals (buy and hold). Low ownership costs in C and B areas and good rents. Plenty of rental demand right now. Personal bias as I am in Kansas City so really can't compare specifically to the other markets you mentioned. A lot of out of state investors invest in KC.

Hi, I am also from Los Angeles California and it's super ridiculous out here which re-directed my investments to out of state. I just purchased a couple of investment properties in Florida duplex B/C properties. I went through a local real estate network that helps newbies or veteran investor purchase out of state properties. The only catch is u have to pay closing cost and they get paid a referral fee through the real-estate agent. They definitely have a lot of class A and B class SFH properties in different markets like, memphis, KC, indi, Atlanta, many cities in Texas. Look them up on there site MRREN marshall Reddick.

I am a licensed realtor in Memphis. I am currently helping two bp members buy here. Though I am also a tk provider, I did not try to push them or steer them to any of my properties. I am very familiar in my market, let me k ow if you want to talk.

I didn't notice from any of the other suggestions offered from anyone who is a realtor , just other tk providers. If you want a realtor I can help you.

@Brett Blough I'm not a RE agent; however, I have a close friend who is a RE agent in AZ who works with a lot of investors from TX, and other states who wanted to buy in AZ (especially during the crash a few years ago). I also know of some RE agents here in Seattle, who are agents, but also RE investors too, and are investor friendly agents. While Seattle isn't going to be the cheapest place to purchase, there are still some deals to be found in Washington State, if you know where to look.

You can PM me if you want additional information on any of the agents I know.

@Brett Blough I have been an out-of-state (and out-of-country) investor since 2007 in Indy. Now I'm practicing real estate again (was licensed in Calif previously) in Houston. Feel free to reach out to me for any questions on purchasing out-of-state, Houston market, etc. Would be happy to help.

@Brett Blough I have been an out-of-state (and out-of-country) investor since 2007 in Indy. Now I'm practicing real estate again (was licensed in Calif previously) in Houston. Feel free to reach out to me for any questions on purchasing out-of-state, Houston market, etc. Would be happy to help.

Hey, Sharon - I'll purchase out of State in Houston...wanna find me something? Big commission checks where I play :)

there are agents in every market who specialize in OREO or distressed assets. which is where all the rental stock comes form by and large.

another thing you may want to consider.. since your going to need rock solid PM any ways.. start with PM and work backwards. they can save you a ton of learning curve good PM's will know were the property will rent the best ,,, as they are in the front lines.

And one thing is for certain everyone of them during the course of the year will have some landlord that is burnt out and wants out... they usually tell the PM first... so you could get some deals that way that are truly off market.

I suspect if you just google any city and ask for REO specialist it will come up in a search. these agents usually only work with local wholesalers or tk guys that are known to them because its very easy for them IE the local will take no hand holding has cash and does not ask 150 questions.. LOL.... thats your competition... and remember if you buying in these markets your generally buying 50 to 100k per so commissions are not high to begin with....

Of course when you ask a question like this on BP you will get those responded who naturally have a bias to their areas, which they should.

Hi there, I am a Real Estate Agent in Houston and the reason that I got my license was working with investors, of course I do have non investor clients as well.

I keep looking for properties with positive cash flow from $200 and higher, I was working on some last week, I can send you if you like to, and if you send me your criteria, I can set up the search for you.

I am a Realtor from Colorado Springs who primarily works with investors. Have you considered the Colorado Springs market? We are still a growing city with a lot more people moving this way it seems. I would not invest in Denver or its surrounding areas as people are paying way too much for properties. Colorado Springs is about an hour south of Denver and people from Denver are starting to move down here to avoid the high rents and housing costs.

Account Closed

You're late to the party in most good markets (most are PEAKING). Send me a message and I'll send you a market cycle analysis mapping all the major markets. To lower your risk, I would suggest picking a market and waiting for the market to hit a bottom and expand before acquiring.